This is the most important news in the Forex market today.
Yuan goes down
On Monday, the Chinese Yuan headed south, while the evergreen buck rallied because US-China relations worsened over the weekend.
The currency pair USD/CNY ascended by 0.1% being worth 6.9445.
Leaders of the Asia-Pacific Economic Cooperation didn’t manage to agree on a communiqué.
China and America failed to agree on whether the reform of the World Trade Organization needs to be in the leaders’ declaration.
American leader Donald Trump didn’t join the gathering as Vice President Mike Pence was present at the event instead of him.
Estimating the US currency’s purchasing power versus its primary rivals the USD index managed to rally by up to 0.1% ending up with 96.5.
On Friday, the Fed’s newly appointed vice chair, Richard Clarida expressed caution over the global surge outlook and told it’s something that will be relevant for the outlook for the American economy.
What’s more, in a separate interview with Fox Business, Federal Reserve Bank of Dallas President Robert Kaplan revealed that he expected a surge deceleration in China and the European bloc.
Besides this, the currency pair USD/JPY stood still coming up with an outcome of 112.75. As Japan’s Ministry of Finance disclosed, in October, the country’s exports managed to soar by 8.2% from the same period of 2017, in contrast with the anticipated 9% surge.
Additionally, the previous week official data disclosed that the Japanese economy went down more than foreseen in the third quarter because of natural catastrophes as well as diving exports.
The currency pairs AUD/USD and NZD/USD decreased by respectively 0.3% and 0.5%.
As for the UK pound, it obtained some residual focus having been under heavy selling the previous week against the backdrop of uncertainties over British Prime Minister Theresa May’s draft Brexit plan.
The currency pair GBP/USD hit 1.2824, decreasing by nearly 0.1%.
During today's press conference, the ECB president said that the data was "somewhat" better than the expectations in the first quarter. T
Australia will release the level of employment change and unemployment rate on June 13, at 4:30 MT time.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…